Zilliqa’s Mainnet Launch has Been Pushed to Next Year
Zilliqa, a scalability-focused blockchain payment processing and decentralized application (dapp) platform, has announced its decision to delay the launch of its mainnet until next year.
The original plan foresaw the launch of the mainnet, i.e. the software capable of homogeneously managing the blockchain and the smart contracts, next autumn, but the team announces the decision to delay the launch until January 2019, postponing also the relative token swap.
The reasons given are important, such as:
- Have time to do a severe and thorough audit;
- Properly prepare the swap token from ERC20 to the proprietary blockchain;
- Prepare an adequate integration in the wallets;
- Develop tools for chain management;
- Integrate more dApps.
Zilliqa is the first public blockchain designed to implement sharding, allowing for linear scaling as the blockchain grows in size. The network is able to operate off-chain and uses sidechains for the management of dApps.
Zilliqa began development on June 1, 2017, and had an internal test net (testing network) operational by September 1, 2017. Since then, the project has released: a public test net (December 1, 2017), different types of sharding protocols, persistent data storage, a smart contract language and framework, and a test net wallet. Dapps are scheduled to begin development on the platform in Q3 of 2018. However, since the main net (the first version of Zilliqa’s fully functional, independent, decentralized blockchain network) is not yet operational, their ZIL token is currently an Ethereum based ERC20 token transacted on the Ethereum blockchain. ERC20 tokens will be swapped at main net launch for ZIL blockchain tokens.
Just a week ago, the cryptocurrency capitalized more than $500 million but slid again below $400 billion following a negative market trend that reduced its value by 38%. At the time of writing, ZIL is trading at the $0.05 levels with a 24-hour volume of around $22 million.